Daily Analysis of Stock Market – NIFTY – 14th October 2019

Daily-Analysis-of-Nifty

On Monday, the market not only opened higher but also settled in positive. The market stayed highly volatile and fast-moving during the trading session. IRCTC IPO given bumper listing and went up to 743 during the day. On the closing well, The Nifty index closed above 11300, Niftybank index holding above 28000 and Sensex settled above 38200. The Nifty index gains 36.10 points, Niftybank index gains 140 points and Sensex up 87.39 points.

Advertisement

Today, the Nifty index opened at 11335.90 went up to 11420.45 and closed at 11341.15 after making the low of 11290.05. The Niftybank index opened at 28238.50 and stayed volatile between 28553.40 to 28043.25 and closed at 28181.95. Sensex opened at 38208.24 made a high of 38513.69 low 38066.13 and closed at 38214.47.

As per our last view, ‘if the Nifty index breaks above 11365 then it can go up to 11400 or more and if the Nifty index breaks and sustains below 11285 then it can fell till 11190 to 11090’ and the index went up to 11420 after breaking above 11365 and on the lower side it has not broken 11285.

For the next trading day, if the stays above 11400 then it can move up to 11500 to 11600. If the Nifty index breaks below 11285 the again it can fell towards 11190.

Advertisement
Daily Analysis of Stock Market – NIFTY – 14th October 2019 1

Today the Nifty index not only broked up the hourly downtrend line but also broken the resistance of 11400 as it can be seen in the chart. On the hourly chart, the Nifty index made an engulfing candle after the breakout is suggesting that the market will be volatile and can give an unexpected move. Technically, the Nifty index looks positive and it seems that it will go up till 11550 with the support of 11285.

NEWS HIGHLIGHTS

  • IRCTC IPO settled with a 127.42% gains.
  • Rupee ends at 71.23/$ lowest since September 2019.
  • Retail inflation inches up to 3.99% in September.
  • Finance secy: Loan melas, Banks disbursed Rs.81781cr loans from October 1-9.
  • ONGC free to sell stake in HPCL.
  • The US lists the rise of China as challenging before India.
  • Indiabulls Housing Finance falls 6% after Moody’s downgrades.
  • Reliance capital sleeps 10% on the sale of a 100% stake in Reliance Securities.

Trading zone for the Nifty index on 15th October 2019

Upside Resistance:-    11350, 11412, 11500.

Downside Support:-  11280, 11200, 11090.

Nifty 50

Advances Declines
36 14

In the Nifty 50, 36 stocks traded in green whereas the 14 were declined on 14th October 2019.

Top 5 Nifty Gainer and Loser

Gainer % Loser %
ONGC 5.50 INFY -3.50
TATAMOTORS 5.03 BAJFINANCE -2.65
BHARTIARTEL 2.62 BAJAJFINSV -1.22
ULTRACEMCO 2.55 POWERGRID -1.00
SUNPHARMA 2.38 UPL -0.91

The most active value wise stocks were, IRCTC, INFY, YESBANK, TATAMOTORS, IBILHSGFIN and the volume-wise were YESBANK, ICICIB22, IDEA, TATAMOTORS, IRCTC.